ST. LOUIS, April 16, 2012 /PRNewswire/ -- Arch Coal, Inc. (NYSE: ACI) today announced that C. Henry Besten, senior vice president of strategic development, plans to retire from the corporation in June after 40 years of service with Arch and its predecessor companies.
"Henry has contributed greatly to Arch Coal's growth and success since the corporation's very earliest days," said Steven F. Leer, chairman and chief executive officer. "He has contributed significantly to our corporate strategy and has mentored many members of our organization's leadership team over the years, and in doing so has left an indelible mark on the organization."
"We will miss Henry's strong leadership, his great business acumen and his excellent counsel," said John W. Eaves, Arch's president and incoming CEO. "He has been an invaluable member of the Arch team for many, many years, and we wish him the very best in his retirement."
Besten joined one of Arch's predecessor companies in 1972 and has served in marketing, trading, technology, strategy, financial and administrative positions over his 40-year career. He has served as a member of Arch's senior officer team since the corporation's formation in 1997, and was a member of the leadership team at Ashland Coal from 1986 until its merger with Arch in 1997.During his tenure, Besten also led Arch's highly successful integration efforts following the acquisitions of International Coal Group and Jacobs Ranch, among other operations. "Under Henry's strong leadership, the Arch team set a new standard for integrating newly acquired operations in a manner that was fast, efficient and durable," Leer said. Among many other notable achievements, Besten was a co-founder and the original president of the U.S. Coal Trading Association. U.S.-based Arch Coal, Inc. (NYSE:ACI) is a top five global coal producer and marketer, with 155 million tons of coal sold in 2011. Arch is the most diversified American coal company, with more than 20 active mining complexes across every major U.S. coal supply basin. Its core business is supplying cleaner-burning, low-sulfur thermal and metallurgical coal to power generators and steel manufacturers on five continents. In 2011, Arch continued to lead the U.S. coal industry in safety performance and environmental compliance among large, diversified producers.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV